1. First semester Lecture #2 Cont. Chapter One: Contracts
College of Law, Al-Mustansiriyah U. Fourth Year Course in Mercantile Contracts
First semester
Lecture #2
Cont. Chapter One: Contracts

2. Error Violence Fraud and Lesion Exploitation Vices of Consent
Vices of consent may be classified with respect to their effect as follows.
Error
Violence
Fraud and Lesion
Exploitation

3. The object in contracts and in obligation
Conditions as to the object are:
1- it must exist
2- it must be determinate
3- it must be susceptible to private ownership.

4. Cause
There are certain reasons due to which a cause becomes illicit: 1- when it is prohibited by the law, 2- when it is contrary to public order or morals.

5. The effects of contracts
Contracts may affect the universal and, sometimes, the singular successors of the contracting parties. Hence, their effect may be as follows: A- Effects on the parties to a contract B- Effects on persons not parties to a contract C- Stipulations for the benefit of a third party.

6. Term, word and phrase meaning
civil status, sufficient, entail, rescission, impression exposing, threaten, due, creditor, debtor, victim, theft, prosecution, fraudulent, artifices, deceive, surprise, susceptible, ownership, illicit, prohibited, contrary to, benefit